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Iran to offer guaranteed purchase terms for power plant construction

Iranian government plans to offer guaranteed purchase terms to domestic and international investors who contribute to the construction of power plants that obtain power from non-exhaustible resources, an official said, IRNA news agency reported.

Arash Kordi, a director of Iran Power Generation and Transmission Company (TAVANIR) has said Tehran aims to obtain five percent of its electricity through renewable energy sources by 2021.

According to Arash Kordi, the country plans to increase the capacity of its electricity production obtained from sustainable energy.

Kordi said Iran exported 9.6 terawatt of power and imported 3.7 terawatt between March 2014-15.

Iran trades electricity with neighboring countries while Turkey and Iraq buy about 90 percent of Iran's exported electricity, he added.

He further said that Iran imported electricity from Turkmenistan and Armenia between March 2014-15.

Iran's power generation capacity currently stands at around 74,000 MW, of that some 12,000 MW is generated via hydroelectric power plants, 1000 MW via nuclear power plant and the remaining is produced by thermal power plants.

According to the latest annual report Iran's capacity of producing renewable energy stands at 232 megawatts, 0.31 percent of the country's total power generation capacity.

Earlier in February, Homayoun Haeri, an official with TAVANIR, said ten percent of Iran's electricity needs will be met by solar and wind power plants by 2022.

Iranians consumed about 219 billion kilowatt hour of power between March 2014 and March 2015.